MT Velebit time charter secured

Tankerska Next Generation Inc. has secured employment for MT Velebit, the ice class product tanker for 12 months straight following the redelivery from her current charterer Stena Weco at the end of September. She will be chartered out to a prominent charterer at approximately US$ 18,500 per day with usual market terms.

The agreed employment rate for MT Velebit outperforms model presumptions presented earlier this year in the rundown to the company’s IPO in February. As well,  the agreed hire rate will further strengthen the financial position of the company, and will enforce TNG on the path towards its initial plans. Achieved conditions are in line with the company's strategic concept that focuses on the efforts of management to secure a strong asset base and stable cash flow to ultimately support creating additional value for its shareholders.

„We are very pleased to announce Tankerska Next Generation Inc. has concluded  a time charter for MT Velebit  which strongly grips our view on market conditions while allowing employment in direct continuation offering maximum utilization of the ship. This repeated success overcomes the level of fixtures achieved earlier this year and the planned level during the initial public offering. I believe that this latest employment will further contribute to achieving the objectives of Tankerska Next Generation Inc. ”, said John Karavanić, CEO of Tankerska Next Generation.

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